Hugo Boss shares tumble on earnings miss forecast
By Steve Goldstein
Shares of Hugo Boss fell as much as 11% on Tuesday after the iconic German clothing company said its fourth-quarter earnings would fall short of analyst expectations.
Hugo Boss (XE:BOSS) put out preliminary figures showing 2023 sales of EUR4.2 billion, which was at the top end of its EUR4.1 billion to EUR4.2 billion guidance range and in line with the Visible Alpha-compiled consensus. Earnings before interest and tax rose 22% to EUR410 million, coming in below expectations of EUR419 million.
The company, which had raised guidance twice during the year, didn't comment on the 2024 outlook.
-Steve Goldstein
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01-16-24 0527ET
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